Crypto Contest May 22: Raiden Network Token

Raiden Network Token (RDNUSD) has broken out of the triangle pattern in the daily chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, Raiden Network Token began a wave one advance on November 9, 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 9 this year, and the red wave two (blue sub-waves a-b-c) correction ended on April 1. If this wave count is correct, Raiden Network Token should be heading next towards the January 9 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

Raiden Network Token offers fast, cheap, scalable token transfers for Ethereum. BlockXChain published a coin overview in March.

(Sources: https://raiden.network/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Raiden Network Token will takeout the January 9 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Raiden Network Token will drop below the April 1 low".

If you think Raiden Network Token is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Raiden Network Token will stay in a trading range between the April 1 low and the January 9 peak until June 27".

You can upvote the comment until 3 PM EST May 25 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).

Bonus

I will be sending one Trophy Token (@trophy-token) to everyone who manages to get these crypto contests right seven times in a row. If/when you accomplish this, please contact me at Steemit Chat with your BitShares address.